When will the expansion of 960,000 pieces be fully operational? How is the progress of 8-inch mass production? The third quarter report shows that the loss has gradually turned around. How much has the yield rate improved compared to the past?

Tianyue Advanced: Dear investors, hello! Since last year, the company has accelerated the construction of production capacity of the new factory in Lingang, Shanghai, gradually increased the production capacity and output of conductive substrates, and successfully started product delivery in May 2023. It is expected that the production capacity and output will continue to increase in the fourth quarter of 2023, which will help provide strong support for the company's full-year performance growth. At present, the production capacity of 300,000 pieces in the first phase is expected to reach full capacity ahead of schedule, and the planning of the second phase of 960,000 pieces has also been started, which will further increase the production capacity and output of the company's high-quality conductive silicon carbide substrate products. At the level of large-size silicon carbide substrates, the conductive silicon carbide substrates in the industry are still mainly 6-inch products. The market has not yet formed a large-scale demand for 8-inch products, and the company has already started the preparation of 8-inch products. At the beginning of 2022, the company announced high-quality 8-inch substrates prepared by independent diameter expansion. At present, the company already has the ability to mass-produce 8-inch products, and will plan production capacity plans according to customer needs and market development in the future. At the 2023 Semicon Forum, Dr. Gao Chao, the company's chief technology officer, also reported on the company's core technology and forward-looking research and development. The company prepared 8-inch crystals with low defect density through the liquid phase method, which is the first in the industry. This also represents the company's leading technical strength. As one of the most technologically comprehensive and internationally advanced silicon carbide substrate manufacturers in China, the company continues to increase its research and development efforts, conducts intensive experiments in core technology fields such as crystal growth and defect control, continuously breaks through technical bottlenecks, improves product yields, accelerates product innovation, consolidates and enhances the company's leading position in the industry, creates greater value for customers, and is committed to becoming an internationally renowned semiconductor materials company. Thank you for your attention!